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The stock market news today is the Dow pushing higher a day after the U.S. Federal Reserve held its first meeting since Donald Trump became president and social media giant Facebook Inc. (Nasdaq: FB) easily topped Wall Street earnings and revenue expectations.

Facebook is on pace to open at an all-time high after yesterday's earnings release. The company saw a steady boost in mobile advertising revenue. The firm's report alleviated concerns about its lack of access to the Chinese market and its botched handling of "fake news" during the 2016 election. Shares of FB stock gained more than 3% in premarket hours.

Yesterday, the Dow added 26 points after another round of positive economic data showed increasing strength in the labor markets and the strongest manufacturing production growth in nearly two years. The Federal Reserve announced Wednesday that it would not increase interest rates during its first meeting during the presidency of Donald Trump.

Let's look at the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:

What's Ahead for the Dow Jones Industrial Average Today

The Dow Jones Industrial Average projected a 40-point gain as markets prepare for a very busy day of earnings reports and economic data.

Yesterday, the Federal Reserve provided a boost of optimism to the markets by painting an upbeat sentiment for the U.S. economy. The Fed decided to maintain interest rates at current levels, but suggested that its goals of three rate hikes by the end of the year were attainable. Janet Yellen's statement came on the same day that the Labor market indicated a remarkable uptick in private sector jobs and news that U.S. manufacturing growth expanded at its fastest pace in roughly two years. All eyes are on the January jobs report slated for release Friday.

Crude oil prices were on the rise as increased optimism over OPEC's planned cuts to curb excessive production outweighed concerns about rising crude supplies. On Wednesday, the Energy Information Administration reported a larger than expected increase in weekly crude inventories but also noted a decline at the key delivery point in Cushing, Okla.

Energy investors need to know about the best way to play oil prices right now. Money Morning Global Energy Strategist Dr. Kent Moors teaches you how to make a big profit with just a little amount of money on one company that is poised for a big comeback. Check out this must-own energy play, right here.

But the big story is the ongoing executive order from President Donald Trump that aims to curb travel and immigration from seven countries. Trump's "travel ban" has generated an incredible amount of controversy over the last week. Among other rules, the executive order indefinitely bars Syrian refugees from entering the United States and suspends all refugee admissions for 120 days.

Now, Mark Cuban, the billionaire investor and owner of the Dallas Mavericks, has weighed in on Trump's policy.

His message: The executive action is "bad for business across the board."

Stocks to Watch Today, Feb. 2, 2017

In earnings news, shares of Amazon.com Inc. (Nasdaq: AMZN) are generating buzz as the e-commerce giant prepares to report December-ending quarterly earnings. The firm is expected to report an uptick in revenue, but concerns have lingered about how much money the firm spent during the holiday season. The company shipped a whopping 1 billion packages during the quarter, and its success led to its announcement yesterday that it will open its own shipping hub in Kentucky. Check back later today for more updates on the company's quarterly performance and find out if its investments in Amazon Web Services have paid off.

Shares of Polo Ralph Lauren (NYSE: RL) plunged more than 10% in pre-market hours after the company announced that its CEO Stefan Larsson will depart the company May 1.

An $80 Billion Cover-Up? Feds use obscure loophole to threaten retirees… Under the watchful eye of Congress, the government will soon be implementing a controversial plan that threatens the retirement of millions of Americans. And they're using an obscure loophole buried in Title 29 of the U.S. Labor Code to do it. If you have a 401(k), IRA, or any type of retirement account, this could cause you to miss out on $68,870 or more. Full Story

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Today's Markets

DJIA82.66(0.35%)23,675.64

NASDAQ30.18(0.45%)6,783.91

S&P0.21(0.01%)2,546.16

FB3.47(2.48%)143.66

AMZN30.57(2.01%)1,551.48

RL1.52(1.51%)102.48

V1.26(0.96%)132.66

CMG0.30(0.07%)443.80

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